From Social Media Ad to Closing the Deal: Why Realtors Need a CRM
Source – Forbes.com
Nowadays, more and more consumers are flocking to the internet to do a quick search before purchasing any item. The same phenomenon happens in the real estate industry too. A report by the National Association of Realtors (NAR) highlighted that 84% of home buyers carry out an online search before they buy a home. One way to generate new leads for your real estate business is to put out compelling social media ads that promote your services.
But just having compelling ads is not enough for you to close the deal. You still need to maintain a pipeline of prospects, initiate contact with them, follow up with them, etc. A lot of real estate agents depend on spreadsheet software to keep track of their prospects. However, to stay on top of your sales process, you should have a dedicated real estate Customer Management System (CRM) in place. Let’s look at why realtors need to use a real estate CRM to succeed in their business.
1) You get access to better lead management
If a prospect fills up a contact form on your website and submits it, they become an inbound lead for you. Whether you generate your leads online in this manner or use some other method to generate a high volume of leads, it’s essential to manage those leads. If you don’t have a CRM, it is practically impossible to manage these contacts, keep track of listings, tasks, appointments, and transactions. Having a real estate CRM will help you streamline your entire sales process.
2) You can automate your repetitive yet essential tasks
A typical office day for a real estate agent may involve multiple repetitive tasks such as:
- Send 10 emails to new prospects
- Make 20 cold calls to generate interest in your business
- Prepare and send out a newsletter to all your existing customers……and so on.
Using a real estate CRM allows you to automate and, more importantly, keep track of all your pending tasks. Doing all the above without a CRM can be exhausting and non-productive.
3) Manage your marketing campaigns efficiently
A lot of CRM software lets you generate leads using a social media campaign or an email drip campaign. You’ll be able to view and analyze reports which will guide you about which campaigns were successful and which were not. Using this insight, you’ll be able to use your time more productively.
4) You can analyze data effectively
Being able to generate inbound leads successfully will lead you to attract a high number of prospects. But, how can you find out who is a good quality prospect as opposed to someone who is just window shopping? Lead management using a real estate CRM will help you segment and analyze data. As a result, you’ll be able to nurture your contacts, deepen relationships, and generate higher revenue.
5) You can scale your business with referrals
A study by Outbound Engine highlighted that 75% of a real estate agent’s business came from referrals. To scale your business, you should use a real estate CRM to help you follow up with your existing customers. A CRM will empower you to stay connected with your customers and nurture your relationships with them. Using a CRM, you can identify the customers who are likely to give you referrals and focus on staying in touch with them.
The chances of you succeeding as a real estate agent improve by using a real estate CRM. Having a real estate CRM is similar to having an assistant help you out. The CRM will take care of the mundane, repetitive, yet essential tasks that you may not have time to handle on your own. A good real estate CRM acts as a lead nurturing system and can help you grow your business.